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posted Apr 12, 2023 12:51:56 PM

Can you claim the First Time Home Buyer Tax Credit if bought out ex-spouse in matrimonial home following separation?

Turbo-tax questions are confusing to me. To qualify they ask did you live in "another" home that was your principal residence. Technically no, all the same matrimonial home.

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Moderator
Apr 14, 2023 4:34:22 PM

No, if you already owned a portion of a home, then you can't claim the First Time Home Buyer's Tax Credit when buying out the other owner.